As the digital revolution is likely to disrupt industries briskly in an optimistic way, organizations are transforming their entire business-from approach to operations, expertise to principles to deliver quality services to customers.
But the latest technologies like mobile phones, smart home appliances, smart accessories, and industrial equipment are generating a massive amount of data on a daily basis. Businesses are looking for effective methods to manage their manual data entry process to procure real value from that data and utilize it to serve their customers better by analyzing their behavioral patterns or for answering critical questions.
Data management is the essential groundwork for any data and analytics set-up are shifting and embracing the evolving technologies to streamline constant generation of data efficiently. The smart technologies are completely changing the landscape by improving and reshaping the data entry processes and methods.
What is the need of smart technologies in data entry?
Data entry is often considered as time-consuming and tedious tasks that don’t help in the growth of a business. It is one of those tasks that may keep you awake at nights because without data you’re just another person with an opinion. But by embracing the latest technologies, one can completely automate the data entry process and easily render valuable information.
What happens in the data entry process?
Businesses collect data from various sources for ample reasons such as understanding consumer behavior, product modification with the help of collected feedbacks, changing market conditions and a lot more. And inputting everything in the standard format becomes cumbersome for the workforce, which also leads to inaccuracies and poor efficiency.
Let’s a take a look at the smart technologies that are revolutionizing the data entry process from start to finish:
#1 Internet of Things (IoT)
IoT is enhancing the network of data by connecting two devices, people, the internet and businesses and emerging as a primary source of data and business intelligence at a faster pace. Objects like smartphones, tablets, wearable technologies, etc., have been embedded with different sensors, so when these objects are connected to the internet, they produce a sheer volume of data.
According to the Gartner Inc. prediction report, the number of connected devices will likely reach 20.4 billion by 2020. Numerous studies have shown that companies will spend almost $5 trillion on IoT in the coming five years. Businesses realize the potential opportunities they can reap by investing in IoT.
Glance over the industry examples to better understand the concept of IoT:
- Transportation- Owners are connecting shipping vehicles with temperature sensors so that goods, specifically frozen or other food arrive at ports safely.
- Healthcare- Professionals can connect medical devices and machines with the system that easily share patient’s data and images with their providers.
- Manufacturing- Implementing connected products that notify the supply chain about predicated demand for aftermarket parts.
- Energy- It prevents from leaks and contamination as the sensors monitor the network of transport pipelines, oil/gas, pressure gauges, and valves.
#3 Cloud Computing
Today every organization is committing to the cloud and considering it as a reliable computing platform, specifically to manage their data and analytics. According to a recent survey report by TDWIs Emerging Technologies Best Practices revealed the ratio of enterprises that are already utilizing cloud-based solutions for:
- Data warehousing- 35%
- Data analytics- 31%
- Data integration- 24%
- Sandboxes- 29%
- Hadoop- 24%
Cloud computing enables you to access data anywhere and anytime on almost every application. But to make your cloud journey better, it is better to adopt best practices to stay compliant with government norms and set data standards.
#4 Artificial Intelligence and Machine Learning
AI has become a new bandwagon in the business industry. You will find adoption of these tools, mostly in every business as it has tremendously enhanced the lives of professionals by simplifying their operations and reducing the potential human errors to a great extent.
By eliminating the repetitive and manual tasks in the business lifecycle like data management, AI has become a great hit in the market soon after its launch! AI can work like humans as they have been equipped with such algorithms, which makes them think logically and accomplish the task faster than human. And most exciting fact about AI- it never sleeps.
However, many businesses are reluctant to embrace this technology as it is becoming a serious threat that it might replace humans and jobs.
What are the Benefits of Using these Smart Technologies?
- It has completely eradicated paper documents
- It is enabling businesses to provide personalized services to their clients
- All the technologies are industry-oriented, giving accurate results to businesses
- Helps in scaling your business in this agile market
- Helps you to get rid of unstructured data volumes
- Helps in extracting valuable data from different sources
- Streamlines complexities in the process and enhances overall efficiency
- Save you time and money
Technologies mentioned-above are positively contributing towards the growth of businesses by improving their current manual data entry work and analytics process.